It is great opportunity for having a great stable Rental income. This property is the combination of Hotel/Residential & commercial spaces.
The GROSS INCOME is around $1,180,000 & NET INCOME is approximately $660,000 that comes to above 6% CAP RATE.
The income hasn`t been affected during Covid-19 for the way it has been structured.
The building size is more than 45,000 SQFT that set on 34984 SQFT lot.
There are 90 suits-- Four 2 bedrooms--60 seats restaurant, 65 seats pub, 107 seat Banquet Halls, liquor store & cell phone store.
Please note the restaurant, Pub & Banquet hall are currently vacant and it is not part of the income.
The next owner can boost the income by renting these places.
The location is just one block away from Ferry Terminal and it is middle of the city center.
Sutton Group WCR
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